REQUIRED Use the information provided below to prepare the Statement of Financial Position of Glendale Limited as at 31 May 2020. Ensure that the statement includes headings for Non-current assets, Current assets, Equity, Non-current liabilities and Current liabilities. The notes to the financial statements are not required. INFORMATION The following balances were obtained from the accounting records of Glendale Limited after all the adjustments and closing transfers were completed on 31 May 2020: Shares in XYZ Limited 600 000 Ordinary share capital 1434 000 Retained income 300 000 Loan: Brits Bank 150 000 Equipment Accumulated depreciation on equipment Inventory Debtors control Provision for bad debts 1 380 000 180 000 210 000 60 000 3 000 Accrued income 6 000 Bank (DR) 69 000 6 000 135 000 Cash float Creditors control Accrued expenses South African Revenue Services: Company tax payable Shareholders for dividends (Dividends payable) 42 000 15 000 72 000 Additional information R30 000 of the loan balance of R150 000 is expected to be repaid during the next financial year.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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please assist ne with that

REQUIRED
Use the information provided below to prepare the Statement of Financial Position of Glendale Limited as at
31 May 2020.
Ensure that the statement includes headings for Non-current assets, Current assets, Equity, Non-current
liabilities and Current liabilities. The notes to the financial statements are not required.
INFORMATION
The following balances were obtained from the accounting records of Glendale Limited after all the
adjustments and closing transfers were completed on 31 May 2020:
R
Shares in XYZ Limited
600 000
1434 000
Ordinary share capital
Retained income
Loan: Brits Bank
Equipment
Accumulated depreciation on equipment
300 000
150 000
1 380 000
180 000
Inventory
210 000
Debtors control
60 000
Provision for bad debts
3 000
Accrued income
6 000
Bank (DR)
69 000
Cash float
6 000
Creditors control
135 000
Accrued expenses
South African Revenue Services: Company tax payable
Shareholders for dividends (Dividends payable)
42 000
15 000
72 000
Additional information
R30 000 of the loan balance of R150 000 is expected
be repaid during the next financial year.
Transcribed Image Text:REQUIRED Use the information provided below to prepare the Statement of Financial Position of Glendale Limited as at 31 May 2020. Ensure that the statement includes headings for Non-current assets, Current assets, Equity, Non-current liabilities and Current liabilities. The notes to the financial statements are not required. INFORMATION The following balances were obtained from the accounting records of Glendale Limited after all the adjustments and closing transfers were completed on 31 May 2020: R Shares in XYZ Limited 600 000 1434 000 Ordinary share capital Retained income Loan: Brits Bank Equipment Accumulated depreciation on equipment 300 000 150 000 1 380 000 180 000 Inventory 210 000 Debtors control 60 000 Provision for bad debts 3 000 Accrued income 6 000 Bank (DR) 69 000 Cash float 6 000 Creditors control 135 000 Accrued expenses South African Revenue Services: Company tax payable Shareholders for dividends (Dividends payable) 42 000 15 000 72 000 Additional information R30 000 of the loan balance of R150 000 is expected be repaid during the next financial year.
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